Saab Signs Funding Deal With Hawtai Motor Group

By

Christina Zander

Updated May 3, 2011 12:21 p.m. ET

STOCKHOLM—Saab Automobile said it reached an investment agreement with a Chinese auto maker that secures its immediate future and could enable the ailing Swedish car maker to restart production as soon as next week.

Saab, owned by Dutch car maker Spyker Cars NV, announced a cash injection of a €150 million ($222.5 million) from Hawtai Motor Group Co. A day earlier, Saab said it had raised €30 million in short-term funding through a...